Egypt’s imports from Russia rise 64.3% in 2017

Egypt’s imports from Russia increased 64.3 percent to $6.21 billion in 2017 from $3.78 billion in 2016, said Egyptian Minister of Industry and Trade Amr Nassar on Tuesday.

Nassar made his remarks during a meeting with Minister of Industry and Trade of Russian Federation Denis Manturov in Moscow, where they held talks over the Free Trade Agreement (FTA) with Eurasian Customs Union (EACU).

“Egyptian exports to Russian markets rose 34.8 percent in 2017 to $504.6 million in 2017, compared with $374 million in 2016,” the Egyptian minister said.

Nassar referred to the importance of reforming the trade balance deficit between the two countries.

“Egyptian Ministry of Industry and Trade is looking to strengthen bilateral investments between the two countries,” Nassar added.